Passbase Raises $13.5M to Build ID Verification Solution for Crypto Firms

Posted on by American Coins & Gold

Passbase Raises .5M to Build ID Verification Solution for Crypto Firms
Passbase, an identity verification infrastructure company, has raised $13.5 million in a funding round led by Costanoa Ventures. The startup will use the funds to scale its operations and build a policy and workflow manager that sits on top of its ID verification system.The capital came from a new $10 million Series A round and a previously unannounced $3.5 million seed round. Other participating investors included Lakestar, Eniac Ventures and Cowboy Ventures.Passbase helps companies automate the identity verification process to meet regulations for anti-money laundering (AML), know your customer (KYC) and age restriction requirements around the world. The developer-focused product…